Portugal Orders Polymarket to Halt Operations Over Betting License Issues

2026-01-20 19:15

Portugal's gambling regulator, SRIJ, has mandated the blockchain-based prediction market Polymarket to cease operations in the country within 48 hours. This order follows the placement of over €103 million ($120 million) in bets on the platform related to the January 18 presidential election results. The regulator highlighted that Polymarket lacks a Portuguese betting license and that local laws restrict betting to sports, casino games, and horse racing, excluding political events. While Polymarket remains accessible in Portugal, authorities may soon instruct internet service providers to block the platform.

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